Why Bitcoin, Ethereum, and Dogecoin Are Slumping Today

Today, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE), all top-10 cryptocurrencies by market capitalization, were singing the blues. These three top tokens had sunk 4.2%, 4.6%, and 3.1% over the past 24 hours at 11:30 a.m. ET.

Concerns that the new omicron coronavirus variant could slow capital flows into risk assets continues to be a key headwind crypto investors are focused on. Additionally, speculation that investors could choose to take gains this year, rather than wait for additional clarification on crypto taxation rules in 2022, appears to have some investors eager to take some profits earlier than usual.

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Source Fool.com